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boehner during the course of the negotiations and there is a tax quirk in the law that would actually impact income holders between 250,000 and 400,000, much higher and disproportionately than those who earn more than 400,000. obviously small businesses. but nevertheless, i think the bottom line is, that the senate has to step up to the forefront here and address this issue and reach an agreement, build a consensus, get the support of hopefully the majority of democrats and republicans and move it to the house of representatives. i think it would bill momentum. i do think it's crucial and in the final analysis that they will reach an accord on this critical matter. i think it would be horrific for the country if at this time, the final days of this legislative session that already has reached historic proportions of failure, that we would now culminate in failure to extend these tax cuts. >> senator, you sound willing to go ahead and agree to raising taxes on wealthier americans to preserve them for the middle class however that gets defined. what are you hearing among the rest of the
the president doesn't want that deal. he doesn't trust speaker boehner can deliver the votes and he feels the election changed his leverage on this. it does not appear the president wants to do this grand bargain. what he wants to do is get tax rates up as he promised to do in the campaign. that's why there's a narrower discussion now. >> we don't have time for some big old deal at this point, right? >> right. >> there's want and political realism. the one other point is they are talking about whether they can put off the spending cuts and whether there's a way to agree to that. >> across the board defense and nondiscretionary. >> i agree there's no more trust between speaker boehner and president obama. >> that's the other dog not barking here, is how small expectations are become here. how little deficit reduction will happen here. >> none, right? by the way, aren't taxes going up anyway? >> true. >> what people don't know or what we haven't focused on here, nobody is talking about keeping taxes low on social security. >> right. the payroll tax, the extension of the holiday in effect is
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